Second-Order Thinking
When you think about the likely evolution of Fed policy for the remainder of 2024,
When you think about the likely evolution of Fed policy for the remainder of 2024,
They’re loving commodities these days. The bonds, not so much. “They” are fund managers. Specifically
Don’t look now, but fund manager cash levels are on the brink of triggering a
Fund managers were the most bullish in more than two years early this month. Just
Markets were jittery on the heels of a weekend defined by terrifying headlines out of
The sarcastic derision in macro-market circles is pretty heavy these days. I’d be inclined to
2024’s on track to be a banner year for money market fund inflows. But you
Gold’s an inverse real yields play. Everyone knows that. It’s axiomatic. If you’re not enamored
When will money market funds start to drain? I’m a little weary of that question
If you’re looking for (or need) a short-notice bear narrative for a market high on
I’m a bit allergic to quasi-nefarious Fed-Treasury “partnership” narratives. There’s something profoundly silly about stating
On the heels of a blockbuster inflow the prior week, US equity-focused ETFs and mutual
Global equities were on track for their best week of 2024 and it was no
One of 2024’s defining characteristics so far is a discernible similarity between the market environment
Blow-off top, blow-off equity flows? That’s one interpretation of the latest fund flows update, which
The preliminary read on US consumer sentiment in March was mercifully uneventful on Friday. I
Equity-focused ETFs and mutual funds saw a seventh week of inflows amid what some describe
Jerome Powell’s timeline for Fed confidence in the durability of the disinflation trajectory, and thereby
Bitcoin hit a new record high on Tuesday. Maybe you noticed. I’m supposed to have
You didn’t need to be a gifted tasseographer to read between the lines last week
Fed cuts (or, more accurately, the expectation thereof later this year) are “sparking animal spirits.”
With two months in the books, 2024’s been generous to equity bulls. Both big-cap US
I probably shouldn’t have read Warren Buffett’s annual letter. It only reminded me of the
The Fed has a narrative. They have a lot of narratives, actually. But an oft-repeated
For what it’s worth, US equity-focused ETFs and mutual funds recouped a meaningful portion of
Admittedly, I’m exhausted with bubble talk. “Are we witnessing a dot-com redux?” “Is the ‘Magnificent
If you favor US equities over the rest of the world, nobody’s going to blame
You must be logged in to post a comment.